Largest Companies by Revenue Boeing. It stands amidst the biggest defense companies in the world and has operations in UK, India, Australia, Saudi Arabia, and the US. However, Airbus has taken the first spot in the 2019-2020FY list, pushing its rival Boeing for the first time in decades. Here are the world’s largest aerospace companies. The global aerospace industry is valued at US $838 billion (2017) while aircraft production was worth over US $180 billion in 2015. Lockheed Martin Corporation is a global aerospace, defence and security company with presence across the world. The multinational company is ranked 3rd on the world list of biggest defense companies and also in terms of applicable 2015 revenues. A Tier 1 Aerospace company is a company that is supplying directly to the Aircraft manufacturer. The Tier 1 company usually source its sub-systems / product from a Tier 2 company. Top Aerospace Tier 1 companies in 2020: BAE Systems plc is a public company which focuses on defense, aerospace, and security. The year 2019, proven to be highly profitable for most of the aerospace companies. Boeing is not only the most popular aerospace company in the world but also the largest by revenue at US$93.4 billion in 2017. Lockheed Martin Corporation, a leading aerospace, defence, security and advanced technologies company based in Bethesda, reported revenue of $53.76bn in 2018, a 7.6% increase compared to 2017. Image courtesy of Coolcaesar. Both Boeing and Airbus, continue to dominate the global aerospace industry in 2020.